What is Bitcoin And Where To Buy it From

What is Bitcoin?

Bitcoin, created in 2009 by Satoshi Nakamoto, was the first decentralized cryptocurrency. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative.

Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger.

Bitcoin is the world's most widely used alternative currency with a total market cap of over $90 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world.

Should you Invest in Bitcoin?

Well, that’s a decision you will have to make on your own but you should consider the fact that Bitcoin still remains one of the most noticed and speculated currencies of all time. And here we have listed out few very interesting facts regarding bitcoin and something to think about if this coin will really rise to predicted heights or fade away.

It is had its fair share huge setbacks such as Silk Road scandal, Mt Gox collapsing which was one of the world’s biggest Bitcoin Exchanges. But it still remains a new and phenomenal method of payment solution for a rapidly growing number of large companies across the globe.

There are only limited Bitcoins available in the world. We cannot create much bitcoins like we do with the money, which only services to deflate the actual value of paper currencies. Once all the Bitcoins are released into the market, they will rapidly go UP in value to supply and demand. If Bitcoin is adopted on a mass scale, it’s price will definitely touch new heights in the coming years. No one knows how much it can go up to.

Bitcoin works as a payment solution like PayPal, Skrill, Payza and all those kind of Payment websites. Bitcoin eliminates the need for the typical transaction fees associated with large money transfers. With Bitcoin, any two persons or companies can do business without borders, without any restrictions, and without fees.

Bitcoin is now processing more transactions than PayPal, and is less than 1/10th of it’s age.

The current price of BITCOIN is $5500 USD, and it has been predicted that it will cross $10,000 USD value in the coming year 2018.

And here are the Bitcoin Price Predictions for 2017, 2018, 2019, 2020 and 2021 according to the renowned Economy Forecast Agency, LongForecast.

Bitcoin Price rises 10,000 percent since 2013. According to the research from Cambridge University, there are 5.8 million users that have cryptocurrency wallet.

Latest Predictions on Bitcoin:

John McAfee (Founder of CyberSecurity Company McAfee) predicted its price will be worth $500,000 in three years.

Cryptocurrency investor Mike Novogratz said, It would not surprise [me] if in the next six to 10 months we’re over $10,000.”

FundStrat Global Advisor Co-Founder Tom Lee turned heads when he first predicted that the bitcoin price could reach $25,000 by 2022, but he has maintained this bullish stance even amid the severe downturn that immediately followed China’s ban on initial coin offerings and bitcoin exchanges.

Hedge fund manager Mark Yusko forecasts that the bitcoin price has the potential to reach $1 million over the long term as the network effect leads increasing numbers of investors to use it as a store of value in place of traditional commodities such as precious metals.

Standpoint Research Founder and Analyst Ronnie Moas has projected that Bitcoin will reach a value of $15,000-$20,000 by late 2020.

How can you buy BITCOIN?

There are so many ways and websites to buy Bitcoin but there are plenty of fake websites too so we will recommend you to buy Bitcoin from the following top websites only:

Founded in June 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin. Coinbase is based out of San Francisco, California.

Coinbase combine an attractive interface, a great site to get bitcoins with a debit card, and multiple online wallets for your digital currency. Over 11,200,000 users are signed up, including 45,000 merchants, and 9000 developer apps. Works well for European, American, & Canadian customers.

CEX is one of those international bitcoin exchanges accepting Euros, British pounds, US dollars, Russian Rubles, Ethereum, Zcash, and Dash. Needless to say, CEX is very popular within those currency regions. There is a no-nonsense landing page, giving you the option to buy or sell 100, 200, 500, or 1000 USD worth of Bitcoin. I like the transparency given to users about how much they will actually pay even before they sign up. Good security practices, a modern and simple user interface, and both bank transfer & credit card purchases are available. CEX is indeed a good beginner-optimized alternative to Coinbase.

Localbitcoins is quite a popular for p2p (person to person) transactions all over the world. Simply put, you interact directly with the guy selling to you. Out of all the bitcoin sites listed here, this is one of the first and most reputed. Escrow and dispute resolution is provided by the site.

Easily buy bitcoin with INR from any online banking or through NEFT/RTGS. Selling bitcoin is just as easy, you will receive INR directly into your bank account. All banks that have IFSC are currently supported.